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50 million barrels to sell to China; Ecuador has 8 current contracts- Ecuador Times

The new long-term sale of crude oil analyzed by the public company Petroecuador , to obtain financing from China, would compromise the delivery of around 50 million barrels of oil over five years, as reported on Friday, June 12, 2020, a source close to This process.

Petroecuador , however, mentioned that the matter is still under analysis in the company’s Board of Directors.

This operation is part of the new agreement Ecuador is seeking with Chinese banks to access new financing, the finance ministry reported last month.

On average, between June and October next, the country expects to get USD 2.4 billion through this channel.

To read the full article on Ecuador Times, click here.



#Factsmatter: An international arbitration panel found ‘no cogent evidence’ supporting #Ecuador’s claim that #Texaco failed to comply with terms of remediation in #Amazon.
The @WSJ sums this case up nicely, “[Steven Donziger] and his team fabricated evidence, promised $500,000 to an #Ecuadorean judge to rule in their favor, ghostwrote much of the final verdict and took other actions that ‘perverted’ the course of #justice. Mr. Donziger disputes the…
Shameless. Disbarred and convicted of criminal contempt of court for bribing an Ecuadorian judge in an attempted extortion scheme, @SDonziger is nonetheless accepting invitations to speak at #climate rallies. Read more about this adjudicated racketeer:
Sworn testimony: While Texaco met its environmental obligations in the Amazon, #Ecuador’s national oil company did “absolutely nothing” to address its own remediation in the area. #FactsMatter:
DENIED: @SCOTUS rejects hearing case of Steven Donziger, who bribed Ecuadorian judge in failed effort to bilk Chevron for billions of dollars.

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